other options besides abortion

HDFC Asset Management Company Ltd (AMC) was incorporated under
the Companies Act, 1956, on December 10, 1999, and was approved to act as an
Asset Management Company for the HDFC Mutual Fund by SEBI vide its letter dated
July 3, 2000.

In terms of the Investment Management Agreement,
the Trustee has appointed the HDFC Asset Management Company Limited to manage
the Mutual Fund. The paid up capital of the AMC is Rs. 25.241 crore as on
September 30, 2013.

The equity shareholding pattern of the AMC as on
September 30, 2013 is as follows :

Particulars

% of the paid up equity capital

Housing Development Finance Corporation Limited

59.81

Standard Life Investments Limited

39.87

Other Shareholders (shares issued on exercise of Stock Options)

0.32

Zurich Insurance Company
(ZIC), the Sponsor of Zurich India Mutual Fund, following a review of its
overall strategy, had decided to divest its Asset Management business in India.
The AMC had entered into an agreement with ZIC to acquire the said business,
subject to necessary regulatory approvals.

On obtaining the regulatory
approvals, the following Schemes of Zurich India Mutual Fund have migrated to
HDFC Mutual Fund on June 19, 2003. These Schemes have been renamed as follows:

Former Name

New Name

Zurich India Equity Fund

HDFC Equity Fund

Zurich India Prudence Fund

HDFC Prudence Fund

Zurich India Capital Builder Fund

HDFC Capital Builder Fund

Zurich India TaxSaver Fund

HDFC TaxSaver

Zurich India Top 200 Fund

HDFC Top 200 Fund

Zurich India High Interest Fund

HDFC High Interest Fund

Zurich India Liquidity Fund

HDFC Cash Management Fund

Zurich India Sovereign Gilt Fund

HDFC Sovereign Gilt Fund*

*HDFC Sovereign Gilt Fund has been wound up in March 2006

The AMC is
also providing portfolio management / advisory services and such activities are
not in conflict with the activities of the Mutual Fund. The AMC has renewed its
registration from SEBI vide Registration No. - PM / INP000000506 dated February
12, 2013 to act as a Portfolio Manager under the SEBI (Portfolio Managers)
Regulations, 1993. The Certificate of Registration is valid from January 1, 2013
to December 31, 2015.